Blockchain for Secure and Decentralized Power System Operation in Smart Grid Systems

Abstract

The incorporation of blockchain technology into smart grid operations has attracted considerable attention owing to its decentralized, immutable, and transparent characteristics. This study examines the use of blockchain in the IEEE 14 bus system, illustrating its capacity to improve security, transparency, and resistance against cyber threats. The suggested system utilizes blockchain to guarantee safe data flow among nodes, including power generators, loads, and control centers. Every transaction related to power flow data, control signals, or market operations is recorded on an immutable ledger. The decentralized architecture of blockchain allows nodes to independently validate transactions through consensus processes such as Proof of Work (PoW) or Proof of Stake (PoS). This decentralization removes a singular point of failure, hence diminishing susceptibility to cyber-attacks aimed against centralized systems. Data integrity is safeguarded using cryptographic hash functions, which promptly identify any attempts to modify the stored information. The blockchain consensus system guarantees the recording of only valid transactions, hence enhancing security. Mathematical models for power flow analysis are incorporated into the blockchain framework, guaranteeing precise computations of voltage magnitudes, phase angles, and power transfers among buses. Simulations of the IEEE 14 bus system demonstrate enhanced system security and resilience, particularly against False Data Injection Attacks (FDIAs). The findings underscore how blockchain enhances overall reliability and mitigates the danger of unwanted data alteration. Blockchain enhances transparency and decentralization, providing a promising approach for guaranteeing the future of smart grid operations.